President Robert Mugabe's government has passed a law that forces Zimbabwe's white-owned companies to hand over majority control to black businessmen Photo: AFP/GETTY Black Zimbabweans To Take Control Of White-Owned Companies -- The Telegraph
White-owned companies in Zimbabwe are to be forced to hand majority control to black businessmen in a move that could lead to chaos rivalling the seizure of the country's commercial farms.
The new regulations demand that all foreign and locally owned companies hand over at least 51 per cent ownership to black Zimbabweans.
Thousands of firms, including the Zimbabwean operations of giants such as Barclays Bank, Standard Chartered Bank and the mining company Rio Tinto, will be affected, and they must submit their plans to comply by March 1.
Owners who fail to comply could be jailed.
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My Comment: And there are people who are wondering why Africa has the problems that it does.
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